Policing Technologies

One of those companies is Axon Enterprise (NASDAQ: AAXN). The company has made a fortune by developing technologies for effective policing.

The company’s name was formerly Taser – after its product with the same name.

The Taser electroshock weapon shoots two dart-like electrodes that can incapacitate an individual.

Taser has become a standard issue for police departments across America. And Axon claims that 191,000 people have been “saved from potential death or serious injury.”S

That’s because police increasingly use a Taser rather than a firearm.

The Taser has been widely adopted. However, a new opportunity exists with body cameras.

In recent years, there’s been widespread public outrage over police shootings of unarmed people.

One way to hold police accountable is with body cameras.

When police use body cameras, the “use of force” drops a staggering 70%. Meanwhile, complaints against police officers plunges 93%.

Axon generates 30% of its revenues from the sale of cameras and software. That number will grow this year, thanks to the acquisition of a company called Vievu, which also develops law-enforcement cameras and software.

The fast-growing body-camera business is expected to become larger than Taser within a few years.

Axon Shares on the Rise

Last year, Axon generated revenues of $343 million, a 28% increase from the prior year. That growth is expected to continue in 2018, with sales topping $410 million.

The company’s strong performance is clearly reflected in the stock price. Axon shares are up 167% in the last year.

Axon shares have already made their big move. And with a $3.7 billion market capitalization, it’s a sizable company.